Animoca Founder Yat Siu Hong Kong May Allow Pledge Services to Include Ether Spot ETFs as Early as This Year

According to The Block, Yat Siu, founder and chairman of blockchain gaming company Animoca Brands, stated that asset management firms in Hong Kong are working to introduce staking into their Ethereum spot ETF, hoping that the staking rewards feature will be approved this year.

Siu, in an interview with The Block, said that Hong Kong is currently discussing the issue of Ethereum (ETH) staking, and the possibility of staking being approved in Asia before the United States is “almost a foreseeable outcome.” Siu also mentioned that HashKey, which manages two spot ETFs in Hong Kong in collaboration with Bosera Fund, is working on a proposal to introduce Ethereum staking. Livio Weng, CEO of HashKey Exchange, stated, “We have developed a plan to earn rewards without increasing risk.” He added that more undisclosed details are currently under discussion.

As the U.S. Securities and Exchange Commission (SEC) has clearly stated that Ethereum spot ETFs are not allowed to have staking functionality (at least for now), the potential for staking rewards could give similar fund products in Hong Kong a relative competitive advantage.

Related report: “Market experts: Ethereum spot ETF issuers cancel staking plans or will reduce attractiveness of such funds.”